However, with price drops of 10% already applied to Sydney and Melbourne, the media is still talking of further downfalls. Attention is also turning to the possibility of changes to negative gearing, franking credits and other levers as part of the build up to the federal election.

The next election must be held by 18 May 2019 for half of the Senate and on or before 2 November 2019 for the House of Representatives and Territory Senators. An election will not be held be earlier than 33 days after it is called, and will take place on a Saturday.

This means that the market will have to build-in enough buffer to cater for any likely changes.

Values have crashed from the highs of late 2017 and whilst further decline is possible, so too is the chance of an upturn in property values. An often-heard saying at our inspections these days is “you wont know you were at the bottom until you start climbing back up”.

That means there are bargains to be had now and the cyclical nature of property pretty much assures you that at some time in future, the recovery will occur and what you paid in the current market will be a “bargain” compared to what it will cost in future. So, if you can service the credit, it makes sense to add property into your portfolio at or near the bottom and even accounting for a further dip, there is little doubt the market is at or near some sort of trough right now. General opinion, supported by many analysts is that we should begin to see recovery during 2020.

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